ALAI.L Share News (ALAI)

LONDON (Alliance News) - Aberdeen Latin American Income Fund Ltd on Monday said it underperformed in its first half compared to its benchmark as a stronger pound outweighed a decent return from Latin American equities.

Aberdeen Latin American's net asset value per share as at the end of its first half at February-end was 84.47 pence each, down 6.6% compared to the 90.40p at the end of August.

The company's net asset value total return was a negative 4.6%, compared to a negative 1.3% return for its benchmark, the Composite MSCI EM Latin American 10/40 Index.

Aberdeen Latin American is paying a second interim dividend of 0.875 pence for the period, flat on the first interim payout.

It said it was a "roller-coaster" period in the region, as better commodity prices boosted markets but global events brought volatility.

Brazil was more resilient, Aberdeen Latin American said, while Chile was also an outperformer. However, Mexico ended the period in the red. The overall outlook remains positive, it said.

Shares were up 0.5% on Monday at 70.37p each.